February 5, 2014
While all companies measure success in multiple ways, profits tend to be the determining factor. Most of the actions of a for-profit company are carried out to make more money. Improving customer satisfaction and creating innovative new products lead to greater profits – they are tools for success. The nice thing about measuring success with dollars and cents is it provides a set of numbers that can be used as metrics.
For nonprofit organizations, success or failure is far more subjective. While profits are obviously not the measure of success, the need to keep the organization viable is still a determining factor. Serving the designated community or industry cannot be done without successful funding. For this reason, it is very important that nonprofits set clear goals when determining what constitutes acceptable service in their area.
How to measure success when profit isn't applicable
Success and failure should be measured by looking at the organization as a whole. When analyzing metrics, look to see how they compliment one another:
Each year, how a nonprofit measures success will depend on the goals of board members and employees. The balance sheet alone cannot determine if an organization was an asset to the community that it serves. Success can be measured in many ways, only individuals within the organization can determine if their nonprofit is operating to the best of its ability.
NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.
We were introduced to First Nonprofit through another housing authority. In our analysis and comparison to what we were paying the State, our first year savings was $5,800 plus. We have been with them since the end of 2008 and I am glad we have been. I consider them an arm of our HR department.
Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.
Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.